The Electronic Transactions Amendment (ETA) Bill was passed in Parliament earlier this week. The bill was passed to facilitate electronic transactions for businesses and citizens in Singapore and help businesses benefit from more convenient and secure electronic transactions.
The Ministry of Communications & Information and the Infocomm Media Development Authority amended the ETA to adopt the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Transferable Records (MLETR) with modifications into Singapore law, and for the Electronic Transactions Amendment to apply to transferable documents such as Bills of Lading.
Electronic Transactions Amendment to enhance Singapore’s competitiveness in the Digital Economy
The ETA facilitates the use of electronic transactions and e-commerce transactions by consumers and businesses. The ETA amendments will enable the creation and use of electronic Bills of Lading (eBLs) that are legally equivalent to paper-based Bills of Lading.
Bills of Lading are key legal documents in maritime trade. Compared to the use of paper-based Bills of Lading, the adoption of eBLs will enable the shipping industry to benefit from faster transactions, cost savings such as reduced administrative cost of cargo holding and document processing, and lowered fraud risks through the use of digital authentication systems.
Singapore has been encouraging the adoption of eBLs and has conducted technical trials through the TradeTrust digital utility.
Singapore is one of the first countries to adopt the UNCITRAL MLETR
Singapore is amongst the first major trading hubs to adopt with modifications the UNCITRAL MELTR.
Adopting this global framework will enable the creation and use of Electronic Transferable Records (ETRs) under the law and allow alignment with Singapore’s trading partners, benefitting both domestic and international industry players across the shipping, finance and legal sectors.
The ease of consistent regulations is expected to promote more domestic and cross-border electronic transactions. The ETA amendments also ensure that reliable methods will be used to ensure the authenticity and reliability of Electronic Transferable Records.
The shift from paper-based to digitally-enabled trade will speed up trade processes and promote business confidence, supporting the digital transformation of Singapore as a financial, trading and maritime hub.
The Institute for Digital Molecular Analytics and Science (IDMxS), which aims to promote the science of analysing biological molecules (biomolecules) using information technology and data science, was recently established by Nanyang Technological University, Singapore (NTU Singapore). This could pave the way for real-time environmental or health data monitoring and analysis, like how real-time traffic data can be obtained on mobile devices.
IDMxS, NTU’s newest national Research Centre of Excellence (RCE), is funded with a total investment of over S$160 million over 10 years, with the majority coming from NTU and the National University of Singapore and S$94 million coming from the Singapore Ministry of Education.
Digital molecular analytics, a novel scientific discipline that analyses individual molecules to discover, identify, and measure biomolecules with extraordinary accuracy, is at the core of the work done at IDMxS.
Such a science will open many new areas of research, such as the creation of diagnostic testing capabilities that may then inspire the creation of new technologies and commercial spinoffs, including blood testing kits that can generate findings instantly using nothing more than a smartphone camera.
The interdisciplinary centre is anticipated to house 100 full-time researchers and employees with backgrounds ranging throughout the spectrum of engineering and science, from optics, computer science, and artificial intelligence (AI) to biology, medical technology, and chemistry.
Postgraduate students from NTU will have exceptional chances for interdisciplinary education and training that spans the molecular sciences and information technology through the graduate programme of IDMxS. More than 30 PhD students will receive support from the Centre, four of whom have already begun their studies. As clinical diagnostics become more digital, IDMxS will also create continuing education programmes aimed at developing and modernising the healthcare workforce.
By fusing the fields of biology and information technology – which have each recently undergone revolutionary changes – IDMxS will create the new science of digital molecular analytics. The objective is to develop tools that can track environmental data, such as air and water quality, and health information, like viral infections or molecular signatures that signal the existence of a disease, in real-time. To develop innovative solutions for issues with health, sickness, and environmental monitoring, this process begins with the development of fundamental science.
The ability to simultaneously gather a variety of data types from a biological sample and use tools like AI and machine learning algorithms to analyse and interpret the enormous volume of data that would otherwise be impossible for humans to make sense of is at the core of IDMxS’ digital molecular analytical strategies. The research centre intends to someday spin out solutions like widely used software using digital molecular analytics.
Moreover, making blood sample test kits is one potential use for digital molecular analytics that IDMxS is investigating. The goal of this research is to create a tool that can recognise the various chemicals responsible for illnesses, infections, and diseases.
This suggests that a physician might someday be able to take a blood sample, analyse it with a smartphone camera, and obtain an accurate, real-time reading next to the patient at the doctor’s table. A similar idea might do away with the necessity for additional time-consuming laboratory tests.
The extensive surveillance of illnesses spread by insects like dengue and malaria is another project that is now under development. Researchers can one day create an imaging system that can swiftly detect and monitor dengue among the mosquito population by recognising and analysing the chemicals that make up the dengue virus. Such studies might also be used to track other airborne infections and infectious diseases, in addition to insect-borne diseases that affect urban health.
The seven best smart cities in Indonesia were announced at the Ministry of Communication and Informatics seminar and exhibition on the Movement Towards Smart Cities (Smart City) in 2022 in Jakarta. Representatives from 141 regencies attend the event in a framework for evaluating the implementation of the Smart City 2022 program.
District/city officials who have succeeded in developing a master plan under the Smart City development in their respective regions attended. The session was organised to showcase the commitment of all regional leaders so that the community see the benefits and progress, said Bambang Dwi Anggono, Director of Government Information Application Services (LAIP) of the Ministry of Communication and Information.
The five best cities and two districts took the Smart City award in the following categories:
- Smart Governance: City of Bandung,
- Smart Branding: Surakarta City,
- Smart Economy: Semarang City,
- Smart Society: City of Yogyakarta,
- Smart Living: Demak Regency,
- Smart Environment: Madiun City, and
- National Priority Tourism Area: Wonogiri
The Smart City initiative is a strategic step toward addressing development plans holistically. The programme aims to harmonise regional government sectors and regional initiative programmes with other regional governments, the central government, the business world, and even other countries. Local governments can work together with other local governments, businesses, academia, and the general public to launch various initiatives that will have a positive impact.
The Smart City Movement aims to guide regions and cities across Indonesia in designing digital-based development that considers each region’s potential and challenges. Furthermore, the Smart City programme can bring innovations from Jakarta to other areas, ensuring an even distribution of development programmes.
The Ministry of Communication and Information has facilitated interconnection with relevant parties in the Smart City development. In addition, the Ministry, through the LAIP Directorate, intends to include 50 regencies/cities in the Smart City master plan assistance in 2023.
“We hope that regional leaders (regents/mayors) will have the courage to innovate and make breakthroughs for the good of society. Correspondingly, we encourage regional heads to become change agents in these breakthroughs (SPBE),” said Bambang Dwi Anggono.
The Ministry intends to implement Smart Province next year. The Smart Province programme will select two provinces in 2023 to prepare the master plan. Smart Province development conceptualises development innovations at the provincial level and coordinates Smart City development at the district level within its jurisdiction. Two provinces will be selected to help prepare the master plan.
Semuel Abrijani Pangerapan, Director General of Informatics Applications at the Ministry of Communication and Information, emphasised the importance of digital transformation as a foundation for building smart cities.
“Creating a Smart City begins with digital transformation; from there, every local government understands what is required. Because each Regional Government has unique characteristics. But, in the end, everything will point to the holistic Smart City that we taught,” he was quoted as saying.
He also stressed the importance of creating a master plan for the long-term development of Smart Cities as establishing a smart city would take 15 to 20 years. As a result, the Ministry has created a programme to educate local entities on constructing a Smart City.
The Infocomm Media Development Authority (IMDA) announced the launch of a S$5 million Virtual Production Innovation Fund to support the local media industry in developing the capabilities needed to harness virtual production technology to maintain the local media industry’s competitiveness as the international partner of choice to create premium IP.
To enable the camera to capture actors and visual effects in real time, virtual production technology uses LED panels to produce realistic background landscapes for television or movie sequences driven by video game engines. The site, road closures, location costs, permits, weather, set construction, and space rental will no longer be necessary for production.
With the help of technology, Singapore has a rare chance to get over some of its physical constraints, like the lack of suitable locations for on-location filming and room for large sets.
The ability of the storytellers to reproduce historical sites or any other environment will allow them to generate content that was previously impossible. This will revolutionise the creative process of storytelling.
The adoption of virtual production by the media sector is further encouraged by the strong signals emanating from international media giants that this technology will be widely employed in the creation of movies and television shows and will become the standard in the next years.
To strengthen capabilities in virtual production and ensure that the media companies and talent can keep up with international production methods to remain competitive, IMDA will pursue a two-pronged strategy to prepare the media sector for the future.
The National Film and Television School (NFTS) in the UK has collaborated with IMDA to adapt the school’s Certificate in Virtual Production course to the requirements of the sector to train media professionals to use this technology.
From December 2022 to April 2023, fifteen professors, trainers, and media professionals from Singapore will participate in virtual lectures and undergo hands-on training at NFTS’s virtual production facilities.
Over the course of the following 12 months, several masterclasses and workshops given by professionals from the business will be offered. A Singapore-based firm that specialises in developing immersive experiences, held a display to exhibit how virtual production can enhance imaginative storytelling.
Hands-on demonstrations will be given by guest speakers from virtual production leaders. They will discuss and explore best practices in the workflow to inventive ways to use different technology in storytelling.
Local businesses can also test out virtual production to realise their creative ideas for brief pieces of content, such as music videos, short films, and brand advertisements, among others. Companies can submit their suggested content concepts from now until February 15, 2023.
The capacity to best utilise virtual production technologies to realise a project’s creative vision will be taken into consideration while evaluating proposals.
Additionally, IMDA is working to organise an industry challenge with an internationally renowned gaming company. This challenge will encourage organisations to experiment with and use the cutting-edge real-time 3D creation tool developed by this gaming company. Currently, the aforementioned tool powers globally popular video games.
Teams whose concepts are shortlisted will receive personalised coaching and training from the gaming company. In addition, they will receive prize money from IMDA to assist with content creation.
Since virtual production technology has advanced in recent years, the country is now able to produce visual effects in real-time without building actual sets, thereby overcoming the constraints of scale, complexity, and space.
To strengthen the nation’s local industries and reduce its reliance on imports, Philippine President Ferdinand R. Marcos Jr. invited enterprises to engage in digitalising processes as well as other crucial areas including education, skills training, and research and development.
The president of the Philippines stated that imported goods continue to be the main cause of inflation and that import substitution must be considered. For its part, the Philippine government is dedicated to accelerating economic growth with the broader objectives of reducing poverty and reviving job creation.
Notably, the government works to hasten the nation’s economic expansion by reducing travel and movement restrictions, even more, enacting economic reforms, and fostering stronger economic ties with trading and investment partners.
The President also emphasised the efforts being made by the government to increase the ease of doing business, public-private partnerships, and bureaucratic efficiency through the development and digitalisation of information and communication technology (ICT).
The Chief Executive said that the Philippine economy is on pace to sustain its good economic performance and meet the government’s growth target of 6.5 to 7.5 per cent for this year as it continues to recover from the pandemic’s negative effects. Inflation must be controlled, the country’s growth rate appears robust, the peso is strengthening slightly in comparison to other currencies, and the unemployment rate is reasonable given the circumstances.
The Chief Executive anticipates that the meeting will aid in creating new economic prospects, reviving the industries that have been most negatively impacted by the pandemic, as well as addressing upcoming difficulties.
Meanwhile, one of the first Intergovernmental Relations (IGR) entities established and constituted under the Bangsamoro Organic Law, the Intergovernmental Fiscal Policy Board (IFPB), recently had their meeting.
The primary role of the IFPB is to address revenue imbalances and variations in the Bangsamoro Autonomous Region in Muslim Mindanao’s (BARMM) financial demands and income-raising capability. The body will specifically suggest tax-collecting strategies and changes to fiscal policy for the BARMM.
THE IGFP discussed 17 issues on the agenda, including the BARMM’s tax system’s digitalisation. Assuring solid financial management and improved bureaucratic efficiency through digital transformation is in line with the administration’s 8-Point Socioeconomic Agenda.
To further this objective, IFPB pledges to build and uphold positive and constructive relationships to meet BARMM’s financial demands and strengthen the region’s potential for revenue-raising. In addition to the IFPB, the Intergovernmental Relations Body (IGRB), which is made up of officials from the national and Bangsamoro administrations, had its 12th meeting and press conference to talk about issues pertaining to the local development of the BARMM.
In response to the difficulties posed by the Fourth Industrial Revolution (Industry 4.0), the Technical Education and Skills Development Authority (TESDA) has reaffirmed its strong commitment to keep developing its programmes and services.
To adapt and alter its programmes to the increasing needs of the industries, TESDA is constantly trying to improve its systems and procedures. And this is where their partner industries step in, assisting them in creating training programmes that will equip graduates with skills relevant to their business.
The organisation emphasised how quickly technology is advancing in the workplace. Since tech-VOC training encompasses the study of technologies and allied sciences as well as the learning of practical skills, Industry 4.0 has a direct impact on this field. To create a workforce with competencies appropriate for the industry, the agency urged people in the education and business sectors to collaborate closely.
In support of President Biden’s Cancer Moonshot mission to cure cancer, the United States Department of Agriculture (USDA) has announced the establishment of the Agricultural Science Centre of Excellence for Nutrition and Diet for Better Health also known as ASCEND for Better Health.
This new virtual centre will hasten research into diet-related chronic diseases such as cancer. The centre’s long-term mission is to integrate research into actionable solutions that improve public health and well-being, particularly in marginalised regions.
ASCEND will bring together scientists, partner organisations, and communities to develop and deploy science-based solutions that improve the health and well-being of all Americans, particularly those living in underserved areas. As a result, the virtual centre will link existing resources, such as people and programmes, to harness the expertise and improve coordination and cooperation.
USDA is focusing more on precision nutrition science research to better understand the needs of marginalised groups. This study adds to the agency’s initiatives to enhance food and nutrition security, which involves having consistent and equitable access to good, safe, and affordable foods that are critical for optimal health and well-being.
In addition, the World Cancer Research Fund estimates that adopting a healthy diet and way of life can prevent 30% to 50% of all cancer cases. As part of its efforts to comprehend the links between nutrition and illnesses like cancer across various communities, the USDA is using fresh and ongoing research to inform its equity lens.
By 2030, hunger will be eliminated, and diet-related diseases will be reduced, all while reducing disparities, according to the National Strategy on Hunger, Nutrition, and Health of the Biden-Harris Administration. In conjunction with the first White House Conference on Hunger, Nutrition, and Health in more than 50 years, the National Strategy was unveiled.
The work of the USDA, which focuses more on resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy, and nutritious food in all communities, developing new markets and sources of income for farmers and producers using climate-smart forestry practises, making historic investments in infrastructure and clean energy capabilities in rural America, and more, benefits every American.
Meanwhile, the Special Supplemental Nutrition Programme for Women, Infants, and Children (WIC) has made changes to the meals that are recommended to participants, according to Agriculture Secretary Tom Vilsack. These scientific updates include suggestions from the Dietary Guidelines for Americans, 2020–2025 and the National Academies of Science, Engineering, and Medicine (NASEM).
The WIC food packages are specially made to complement the meals and drinks that participants already eat and drink while completing important nutritional gaps to support normal growth and development.
The Food and Nutrition Service (FNS) is recommending modifications to the food packaging to bring it into line with the most recent nutritional research and enable equal access to nutrient-dense foods during key times of development.
When taken as a whole, the modifications will raise the level of assistance while giving WIC state agencies more freedom to customise the packages to meet the needs of special dietary requirements, and cultural food preferences, and an increase in variety and choice for WIC participants, making the programme more alluring to both current and potential participants.
The Singapore Tourism Board (STB) and Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS) released the MICE Sustainability Roadmap, which outlines specific goals and plans for raising sustainability standards throughout the MICE sector in Singapore over the coming years.
The Meetings, Incentives, Conventions, and Exhibitions (MICE) industry is a type of tourism travel in which groups of people are brought together for a specific reason, usually well in advance. On the other hand, the MICE market refers to a subset of people who plan, arrange, and facilitate conferences, seminars, exhibitions, and other events.
Part of STB’s overarching plan to develop a sustainable tourism sector is the use of such roadmaps, which direct businesses in the sector to achieve specific sustainability goals. Following the launch of the Hotel Sustainability Roadmap earlier this year, the MICE Sustainability Roadmap is the second such project.
The Singapore Green Plan 2030 and the Sustainable Development Goals of the United Nations (UN) serve as the roadmap’s guiding principles. Three goals are listed in the MICE Sustainability Roadmap to help Singapore become one of the most environmentally-friendly MICE destinations in Asia Pacific:
- By 2023, create a set of industry-acceptable sustainability standards with the goal of having them recognised internationally by 2024.
- For all six purpose-built MICE venues and 80% of SACEOS members to get internationally or nationally recognised sustainability certification, or both, by 2025.
- To attain net-zero emissions by 2050 in accordance with the country’s net-zero aim, the Singapore MICE sector must first track waste and carbon emissions by 2023, reduce waste in line with the Singapore Green Plan by 2030, and reduce waste overall by 2050.
The MICE Sustainability Committee (MSComm), established by STB and SACEOS in August 2022 to advance sustainability capabilities and create awareness of sustainability initiatives and best practices, will help the industry adopt sustainable practices and meet these goals.
The dedication to sustainability follows a robust MICE rebound in the wake of Singapore’s borders being reopened in April this year and a rising desire for environmentally friendly business travel. More importantly, the industry is aware of how crucial it is to lessen the environmental impact of MICE events.
With STB and SACEOS leading the charge and offering support as necessary to further develop a sustainable business events landscape in Singapore, the MICE Sustainability Roadmap will ensure that MICE players move forward in pursuing relevant and achievable sustainability goals that are tracked at appropriate milestones.
Meanwhile, OpenGov Asia recently reported that the Infocomm Media Development Authority (IMDA) of Singapore is working with a large American technology company to address climate change-related challenges and enhance the sustainability of digital technologies.
The cooperation aims to hasten the local and international development of software applications and solutions to assist businesses in using their resources more efficiently.
The tech giant and IMDA will exchange best practices, standards, learnings, and certification pathways for accurate measurement and reporting of carbon emissions resulting from software applications. Through this relationship, the nation hopes to speed up the application of the ideas and resources needed to create green technologies.
According to IMDA, Southeast Asia is well-positioned for the region to take the lead in digital sustainability. This collaboration will produce cutting-edge digital sustainability solutions that can be used by multinational corporations, bringing about positive change for the environment worldwide and ensuring a sustainable future for all.
The Ministry of Industry and Trade has concluded the National E-Commerce Week and Online Friday 2022 event. The first programme offered opportunities for enterprises operating in the fields of e-commerce and digital technology to introduce their products, services, and solutions to advance the country’s digital economy. The Online Friday 2022 event aimed to promote the sustainable growth of e-commerce and the application of solutions to boost domestic firms’ revenue.
An opening ceremony was held earlier this month in Ho Chi Minh, jointly organised by the Ministry of Industry and Trade, the Vietnam E-commerce and Digital Economy Agency, and the municipal People’s Committee. According to Duong Anh Duc, the Vice Chairman of the municipal People’s Committee, a Concentrated Promotion Month has been implemented in the city for many years with the participation of many businesses across the country. The programme is a part of the Ministry of Industry and Trade’s goals to stimulate domestic consumption, expand the domestic market, and support production and business.
Along with the programme, the National E-Commerce Week and Online Friday 2022 provided domestic consumers and international visitors with opportunities to have enhanced shopping experiences in the online environment during the big year-end shopping festival. The Ministry of Industry and Trade worked with the largest affiliate marketing platform in Vietnam to share and offer solutions to help businesses use technology to increase profits. Businesses were able to take advantage of and optimise support tools and features on e-commerce platforms, expand access to a wide range of customers and raise online revenue.
As of 29 November, the second Concentrated Promotion Month (which will run from 15 November to 22 December) attracted the participation of 3,326 businesses with 6,981 promotions offered. The first Concentrated Promotion Month (which ran from 15 June to 15 July) witnessed the participation of 151,298 firms and 5,488 promotion programmes.
In Vietnam, the use of digital platforms, e-commerce sites, social networks, and specialised applications has increased sharply, and the country is expected to become the fastest-growing e-commerce market in Southeast Asia by 2026. Global e-commerce is estimated to grow by 28.4% annually between 2020 and 2027. Meanwhile, revenue from business-to-consumer (B2C) e-commerce in Vietnam is expected to increase by over 20% each year. As OpenGov Asia reported, over the last ten years, e-commerce in the country has continually grown by 25-30% while its size increased to US$ 13.7 billion in 2021. It has made up over 7% of the total flows of consumer goods and services and become an important distribution channel, in addition to traditional ones.
Despite the pandemic’s impacts in 2020 and 2021, e-commerce has still been flourishing in Vietnam. It is forecast to post double-digit growth this year to rank third in Southeast Asia. In fact, the pandemic fueled a significant uptick in e-commerce, which recorded a 16% growth last year. Although the pandemic drove the e-commerce market, it slowed down economic growth, which was the lowest in 30 years last year (2.58%), with key services sub-sectors experiencing a downturn. Data from the General Statistics Office showed that retailing and wholesaling declined 0.21% year-on-year, causing the economy to decrease by 0.02 percentage points. Warehouse and logistics dropped by 5.02% and lodging and catering services by 20.81%, leading to a drop in contribution by 0.3% and 0.51%, respectively, to the GDP growth.
Meanwhile, the share of turnover from e-retailing to last year’s total retail sales of goods and services was 7%, a year-on-year rise of 27% from 2020. E-retailing is forecast to surge 20% this year to US$ 16.4 billion, compared to US$ 5 billion in 2015.